Hank Greenberg Wins AIG Case, Snowball Does Not Get A New Pair Of Shoes
The nonagenarian ex-AIG chief, whose case against the government originally seemed like the ramblings of an angry old man that he had zero chance of winning, was sort of handed a victory today. Though not the kind that the only living thing Greenberg shows affection--a Maltese named Snowball-- can take to the bank.
A federal judge ruled that the U.S. government exceeded its authority in its 2008 rescue of American International Group Inc., handing former AIG Chief Maurice R. “Hank” Greenberg a moral victory in a case that once seemed unwinnable. But the judge didn’t award Mr. Greenberg and other members of a class of about 287,000 shareholders any money, accepting the government’s arguments that the company’s alternative to the government bailout had been a bankruptcy filing that likely would have left shareholders with nothing.
Judge Rules in Former AIG Chief Greenberg’s Favor in Bailout Trial [WSJ]
